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Listing on OTC
RXT was listed 20 July 2005 on the OTC-system in Norway (NOTC - The Norwegian Over The Counter Market). Ticker codes: RXTA and RXTB.
The OTC-system has been developed by The Association of Norwegian Stockbroking Companies as a trading support system for unlisted shares.
Link to the Association’s web site: http://www.nfmf.no/eng/Default.htm
Updated stock information and company news can be found at The Association’s web site.
Updated stock information can also be found at the following links:
Hegnar Online: http://www.hegnar.no/external/default.asp?nSpace=ns_12
Nettavisen: http://kurser.tv2.no/Nettavisen/iwt.dll/Unoterte
Stocklink: http://www.stocklink.no/unoterte.html
The announcement 19 July 2005 in English:
RXTA/ RXTB – New company – Reservoir Exploration Technology AS (RXT)- listed on the OTC – list
Effective 20 July 2005, a new company has been registered on the OTC-list – Reservoir Exploration Technology AS (RXTA/ RXTB). (ISIN NO0010277940/ NO 001 0277957). The Company has entered into a contract for usage of the announcement system, and can use this from 20. July 2005.
RXT is a marine geophysical company specializing in multi component (4C) sea-floor seismic acquisition. The company owns the seismic equipment (cables, sensors and recording equipment), but charters the vessels. The company has currently one seismic 4C crew operating in the Gulf of Mexico on a contract basis. The placement made in July 2005 will finance setting up a 2nd seismic crew in April 2006. The company intends to apply for listing on Oslo Stock Exchange during 2005. The market capitalization of the company is NOK 402.522.540 based on the offer price in July 2005 of NOK 241.50. Total outstanding shares in the company are 1.666.760. The shares are divided into two share classes; 607.559 A-shares and 1.059.201 B-shares.
The holders of A shares shall in the General Meeting have the right to appoint 2 board members and to appoint an observer to attend board meetings of the company. The observer shall receive the same information from the company as members of the board of directors. The observer is allowed to table items for discussion and speak at board meetings but does not have voting rights.
If the A-shares are transferred to other than Lime Rock Partners II, L.P., 3i Group plc or 3i UK Private Equity 2004-6 LP, the A shares become ordinary B shares.